Judy Wasylycia-Leis on Bank Act

moved for leave to introduce Bill C-316, An Act to amend the Bank Act (branch closures).

Mr. Speaker, I am pleased to reintroduce this bill which deals with the Bank Act and branch closures.

This bill addresses the failure of the Bank Act to provide consumers with meaningful input into decisions by banks to cut off essential financial services by compelling those banks to conduct public consultations before such decisions are made. This is a national issue that touches communities right across Canada, particularly like my own in Winnipeg North. The banks have basically deserted our community, leaving the citizens in my area vulnerable to high interest, unregulated fringe banking alternatives.

I look forward to members in the House debating this bill and supporting this important idea.